Bitcoin July 22 daily chart alert - Chart consolidation continues

Kitco
07-23

(Kitco News) - Monday, July 22—July bitcoin futures prices are firmer in early trading Tuesday. Sideways and consolidative trading continues amid the summertime doldrums. The sideways and choppy price action at higher levels is not bearish. A price uptrend remains in place on the daily bar chart, but the bulls need to show some fresh power soon to keep the uptrend from stalling out.  Bulls have the firm overall near-term technical advantage. See the important near-term technical support and resistance lines on the chart. Wyckoff’s Market Rating: 7.0 (out of 10.0, with 1.0 being the most bearish and 10.0 being the most bullish). 

 

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